WE
LOVE
BUSINESS
ESSENTIALS
CLASS
100

The condition of having to answer for or be liable for your actions; accepting responsibility for your decisions

Accountability

100

The ability to make judgments without favoritism or self-interest; engaging in fair competition and creating equal relationships

Fairness

100

Fulfilling one’s obligations in a dependable, reliable manner

Responsibility

100

The long-term value of your choices

Viability

100

A business that operates out of a physical facility (instead of online)

Brick and mortar

200

The result of an action

Consequence

200

Truthfulness

Honesty

200

Complying with laws and regulations

Rule of law

200

 An inflated sense of self-importance

Arrogance

200

A type of producer that constructs roads, bridges, buildings, houses, etc.

Builders

300

Standards that govern behavior; not dependent on circumstance

Ethical principles

300

Adhering to an established set of personal ethics and sound moral principles; acting with honesty in all situations

Integrity

300

A dishonest way of presenting a person or situation

Spin

300

A difficult situation in which you are required to make a decision

Dilemma

300

Retailers who operate solely online

E-tailers

400

An issue in which you must decide whether something is right or wron

Ethical situation

400

A person’s or business’s good name

Reputation

400

The quality of being just as one seems; being open and truthful when communicating

Transparency

400

An issue in which you must decide whether something is right or wrong; sometimes referred to as an ethical situation

Ethical dilemma

400

A type of producer that changes the shapes or forms of materials so that they will be useful to consumers

Manufacturer

500

The basic principles that govern your behavior

Ethics

500

Regard or esteem; honoring the rights, freedoms, views, and property of others

Respect

500

Reliable; deserving the confidence of others

Trustworthy

500

A person whose behavior is imitated by others

Role model

500

The people who make or provide goods and services

Producers